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Facebook's (FB) busted IPO is so last week's news now. We've now become so used to it, everyone's taken to slagging it on Twitter and in the blogosphere.

It's almost like we were all in on the joke of what a botched IPO it was going to be -- except that's not true at all.

In fact, we all thought the Facebook IPO was going to be a huge hit. We were dead wrong.

Watching Squawk Box and Bloomberg on Friday morning made me feel like I was watching the equivalent of the Superbowl for business media. I happened to be at CNBC later that day when Facebook started to trade. The atmosphere was seriously electric.

For my part, I said a couple of times on TV before the IPO that I expected the first price talk at the start of the road show to value Facebook at $100 billion, but for them to price at $120 billion on the Thursday night before the IPO. However, once trading began, I expected it to go up to $140 billion within the first couple of days.

As we now know, Facebook started the road show with price talk of $96 billion. It went up to $104 billion on Thursday night. Even though -- according to the Journal -- Facebook wanted to raise it further, they were rebuffed by investors. Instead, it went as high as almost $45 on Friday meaning its market capitalization neared $123 billion.

After the first 15 minutes though, it dropped like a stone back to the offer price. It's now at $87 billion.

Last week, a friend of mine who I follow on Twitter, Aron Pinson, started a contest for guessing the stock price that Facebook would close at on Friday.

He got 169 responses from the best and brightest on Twitter. The prize was the value of 1 Facebook share sent to the winner via PayPal.

The results are located here in this Google Docs file. (I didn't participate although I did tweet my guess of $45 prior to Friday's trading.)